The so-called Class 3 license is for engaging in business. The applicant must be able to demonstrate that he has business premises, local licenses, etc. BATF very much discourages those who want to get a license just so they can play with FA weapons.

Plus, if the license is to be surrendered, any guns the business owner wishes to keep and which are transferable must be transferred on a Form 4, with the $200 tax. Otherwise, any guns must be transferred to another dealer or surrendered. In other words, you can't get a license, accumulate a machinegun collection and then close up the business and keep the guns freebie.